[Federal Register Volume 76, Number 238 (Monday, December 12, 2011)]
[Notices]
[Pages 77270-77271]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-31859]


=======================================================================
-----------------------------------------------------------------------

PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Annual Financial and Actuarial Information Reporting

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intent to request extension of OMB approval.

-----------------------------------------------------------------------

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to 
request that the Office of Management and Budget (OMB) extend approval, 
under the Paperwork Reduction Act, of its

[[Page 77271]]

collection of information for annual financial and actuarial 
information reporting under 29 CFR Part 4010 (OMB control number 1212-
0049; expires March 31, 2012). This notice informs the public of PBGC's 
intent and solicits public comment on the collection of information.

DATES: Comments must be submitted by February 10, 2012.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the Web site instructions for submitting comments.
     Email: [email protected].
     Fax: (202) 326-4224.
     Mail or Hand Delivery: Legislative and Regulatory 
Department, Pension Benefit Guaranty Corporation, 1200 K Street NW., 
Washington, DC 20005-4026.
    Comments received, including personal information provided, will be 
posted to http://www.pbgc.gov.
    Copies of the collection of information and comments may be 
obtained without charge by writing to the Disclosure Division, Office 
of General Counsel, at the above address or by visiting the Disclosure 
Division or calling (202) 326-4040 during normal business hours. (TTY/
TDD users may call the Federal relay service toll-free at 1-(800) 877-
8339 and ask to be connected to (202) 326-4040.)

FOR FURTHER INFORMATION CONTACT: Grace H. Kraemer, Attorney, or 
Catherine B. Klion, Manager Legislative and Regulatory Department, 
Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 
20005-4026; (202) 326-4024. (TTY/TDD users may call the Federal relay 
service toll-free at 1-(800) 877-8339 and ask to be connected to (202) 
326-4024.)

SUPPLEMENTARY INFORMATION: Section 4010 of the Employee Retirement 
Income Security Act of 1974 (ERISA) requires each member of a 
controlled group to submit financial and actuarial information to PBGC 
under certain circumstances. PBGC's regulation on Annual Financial and 
Actuarial Information (29 CFR part 4010) specifies the items of 
identifying, financial, and actuarial information that filers must 
submit. PBGC reviews the information that is filed and enters it into 
an electronic database for more detailed analysis. Computer-assisted 
analysis of this information helps PBGC to anticipate possible major 
demands on the/pension insurance system and to focus PBGC resources on 
situations that pose the greatest risk to the system. Because other 
sources of information are usually not as current as the 4010 
information and do not reflect a plan's termination liability, 4010 
filings play a major role in PBGC's ability to protect participant and 
premium-payer interests.
    ERISA section 4010 and PBGC's 4010 regulation specify that each 
controlled group member must provide PBGC with certain financial 
information, including audited (if available) or (if not) unaudited 
financial statements. They also specify that the controlled group must 
provide PBGC with certain actuarial information necessary to determine 
the liabilities and assets for all PBGC-covered plans. All non-public 
information submitted is protected from disclosure. Reporting is 
accomplished through PBGC's secure e-4010 web-based application.
    OMB has approved the 4010 collection of information under control 
number 1212-0049 through March 31, 2012. PBGC intends to request that 
OMB extend approval of this collection of information for three years, 
without change. An agency may not conduct or sponsor, and a person is 
not required to respond to, a collection of information unless it 
displays a currently valid OMB control number.
    PBGC estimates that approximately 300 controlled groups will be 
subject to 4010 reporting requirements. PBGC further estimates that the 
total annual burden of this collection of information will be 2,620 
hours and $5,088,000.
    PBGC is soliciting public comments to--
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodologies and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology.

    Issued in Washington, DC, this 7th day of December 2011.
John H. Hanley,
Director, Legislative and Regulatory Department, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2011-31859 Filed 12-9-11; 8:45 am]
BILLING CODE 7709-01-P